Reichmann joined British Steel in November 2017 as chief financial officer. He was previously the managing director at Austrian steelmaker Voestalpine’s wire technology division.

Reichmann also briefly served in the role of British Steel’s deputy CEO from January 2019 alongside his role as CFO.

“Gerald has played a leading role in the ongoing transformation of our business and his appointment will help us build a strong and sustainable future,” British Steel chairman Roland Junck said.

Junck had taken on executive functions in his role as chairman in the absence of a permanent CEO after Peter Bernscher resigned from the role at the end of 2017, citing “differences in perspective and direction."

Bernscher became company CEO in May 2017 after joining from Voestalpine, where he had been the head of the automotive components division.